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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#XAUUSD
Total Profit: 188983 point
Closed trade(s): 101485 point Profit
Open trade(s): 87498 point Profit
_______________________________________________
Trade Setup:
We opened 15 BUY trade(s) @ 1088.40 based on 'Two Day Reversal Candle' entry method at 2016.01.15.

Closed Profit:
TP1 @ 1098.00 touched at 2016.01.20 with 960 point Profit.
TP2 @ 1113.00 touched at 2016.01.26 with 2460 point Profit.
TP3 @ 1131.60 touched at 2016.02.03 with 4320 point Profit.
TP4 @ 1155.00 touched at 2016.02.04 with 6660 point Profit.
TP5 @ 1182.00 touched at 2016.02.08 with 9360 point Profit.
TP6 @ 1222.75 touched at 2016.02.11 with 13435 point Profit.
TP7 @ 1255.00 touched at 2016.02.11 with 16660 point Profit.
TP8 @ 1305.15 touched at 2016.06.16 with 21675 point Profit.
TP9 @ 1347.95 touched at 2016.06.24 with 25955 point Profit.
960 + 2460 + 4320 + 6660 + 9360 + 13435 + 16660 + 21675 + 25955 = 101485 point

Open Profit:
Profit for one trade is 1234.23(current price) - 1088.40(open price) = 14583 point
6 trade(s) still open, therefore total profit for open trade(s) is 14583 x 6 = 87498 point
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1070.00 to 1044.80). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1070.00)
    • Support on 01/14/2016
    • Resistance on 12/30/2015
    • Resistance on 12/29/2015
    • Resistance on 12/18/2015
    • Support on 12/11/2015
    • Support on 12/10/2015
    • Support on 12/09/2015
    • Support on 12/08/2015
    • Support on 12/07/2015
    • Resistance on 12/02/2015
    • Resistance on 12/01/2015
    • Resistance on 11/30/2015
    • Support on 11/26/2015
    • Support on 11/25/2015
    • Support on 11/19/2015
    • Support on 11/18/2015
    • Support on 11/17/2015
    • Support on 02/11/2010
    • Support on 02/10/2010
    • Resistance on 10/14/2009
  • Ending of entry zone (1044.80)
    • Support on 12/03/2015
    • Support on 02/05/2010

DateFebruary 19, 2017 - 21:22
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 61.

Take Profits:

  1. 1098.00
  2. 1113.00
  3. 1131.60
  4. 1155.00
  5. 1182.00
  6. 1222.75
  7. 1255.00
  8. 1305.15
  9. 1347.95
  10. 1390.00
  11. 1433.50
  12. 1539.95
  13. 1785.00
  14. 1920.60
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024